Asian stocks gain as US bails out Bank of America (AP)

Trading was cautious early on after a tumultuous week that saw markets fall sharply, with some investors picking up beaten down shares but still wary of more trouble ahead as economies contract and company profits shrink.

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Investors found a glimmer of hope after Wall Street regained its footing on signs the U.S. government would do whatever is necessary to prevent its economy from sinking deeper into recession. American lawmakers authorized a second $350 billion from the government's emergency bailout funds as speculation mounted that debt-laden banks would need even more rescue money.

Full Story: Asian stocks gain as US bails out Bank of America (AP)